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Highbridge Fundraising For Bank Debt Fund
July 3, 2008
Highbridge Capital Management is the latest hedge fund to try to take advantage of distressed bank debt with plans for a $1 billion fund.
The JPMorgan Chase unit began marketing Highbridge Leveraged Loan Partners last week, the New York Post reports. The fund will buy distressed paper originating over the past year-and-a-half that banks are seeking to get off their balance sheets amid the credit crisis.
The new fund will reportedly impose a three-year lockup period.
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